NASDAQ:MRVLMarvell Technology Group Stock Price, Forecast & News

Marvell Technology Group's stock was trading at $22.01 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, MRVL shares have increased by 64.2% and is now trading at $36.13.
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23 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Marvell Technology Group in the last year. There are currently 1 sell rating, 3 hold ratings and 19 buy ratings for the stock, resulting in a consensus recommendation of "Buy."
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Marvell Technology Group is scheduled to release its next quarterly earnings announcement on Thursday, August 27th 2020.
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Marvell Technology Group will be holding an earnings conference call on Thursday, August 27th at 12:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at Not Available.

Marvell Technology Group Ltd. (NASDAQ:MRVL) posted its quarterly earnings results on Thursday, May, 28th. The semiconductor company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.04. The semiconductor company had revenue of $694 million for the quarter, compared to analyst estimates of $680.19 million. Marvell Technology Group had a net margin of 55.66% and a return on equity of 2.82%. Marvell Technology Group's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share.
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Marvell Technology Group declared a quarterly dividend on Thursday, June 25th. Shareholders of record on Monday, July 13th will be paid a dividend of $0.06 per share on Wednesday, July 29th. This represents a $0.24 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, July 10th.
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Marvell Technology Group announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 16th 2018, which allows the company to repurchase $1,000,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Marvell Technology Group updated its second quarter earnings guidance on Thursday, May, 28th. The company provided earnings per share guidance of $0.17-$0.23 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.17. The company issued revenue guidance of $684-$756 million, compared to the consensus revenue estimate of $687.06 million.

23 Wall Street analysts have issued 1 year price objectives for Marvell Technology Group's stock. Their forecasts range from $18.00 to $50.00. On average, they expect Marvell Technology Group's share price to reach $35.10 in the next year. This suggests that the stock has a possible downside of 2.9%.
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News coverage about MRVL stock has trended positive on Friday, InfoTrie Sentiment reports. The research firm ranks the sentiment of media coverage by monitoring more than six thousand blog and news sources. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Marvell Technology Group earned a media sentiment score of 2.1 on InfoTrie's scale. They also gave news headlines about the semiconductor company a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an impact on the company's share price in the next few days.
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Marvell Technology Group saw a drop in short interest in July. As of July 31st, there was short interest totaling 14,010,000 shares, a drop of 11.2% from the July 15th total of 15,770,000 shares. Based on an average daily volume of 9,190,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 2.1% of the shares of the stock are short sold.
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Some companies that are related to Marvell Technology Group include NVIDIA (NVDA), Intel (INTC), Broadcom (AVGO), Texas Instruments (TXN), Micron Technology (MU), Analog Devices (ADI), Xilinx (XLNX), Microchip Technology (MCHP), Skyworks Solutions (SWKS), Maxim Integrated Products (MXIM), Monolithic Power Systems (MPWR), Cree (CREE), First Solar (FSLR), Inphi (IPHI) and Silicon Laboratories (SLAB).
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Based on aggregate information from My MarketBeat watchlists, some companies that other Marvell Technology Group investors own include NVIDIA (NVDA), Micron Technology (MU), Advanced Micro Devices (AMD), Alibaba Group (BABA), Walt Disney (DIS), QUALCOMM (QCOM), Cisco Systems (CSCO), Intel (INTC), AbbVie (ABBV) and salesforce.com (CRM).

Marvell Technology Group trades on the NASDAQ under the ticker symbol "MRVL."

Marvell Technology Group's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Menora Mivtachim Holdings LTD. (0.50%), Frontier Capital Management Co. LLC (0.44%), Swiss National Bank (0.40%), Jennison Associates LLC (0.35%), Wedge Capital Management L L P NC (0.29%) and Cambiar Investors LLC (0.24%). Company insiders that own Marvell Technology Group stock include Andrew Micallef, Dan Christman, Dean E Jr Jarnac, Jean X Hu, Matthew J Murphy, Michael G Strachan, Mitchell Gaynor, Oleg Khaykin, Richard Hill, Syed Ali and Willem A Meintjes.
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MRVL stock was sold by a variety of institutional investors in the last quarter, including Menora Mivtachim Holdings LTD., Russell Investments Group Ltd., Jennison Associates LLC, Arizona State Retirement System, Scout Investments Inc., Cambiar Investors LLC, Wedge Capital Management L L P NC, and Frontier Capital Management Co. LLC. Company insiders that have sold Marvell Technology Group company stock in the last year include Andrew Micallef, Dan Christman, Dean E Jr Jarnac, Jean X Hu, Matthew J Murphy, Michael G Strachan, Mitchell Gaynor, Oleg Khaykin, Richard Hill, and Willem A Meintjes.
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MRVL stock was acquired by a variety of institutional investors in the last quarter, including Robecosam AG, First Trust Advisors LP, Public Employees Retirement Association of Colorado, Swiss National Bank, Prudential PLC, Fifth Third Bancorp, Fagan Associates Inc., and Atalanta Sosnoff Capital LLC. Company insiders that have bought Marvell Technology Group stock in the last two years include Jean X Hu, and Michael G Strachan.
View insider buying and selling activity for Marvell Technology Group.

Shares of MRVL can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of MRVL stock can currently be purchased for approximately $36.13.

Marvell Technology Group has a market capitalization of $24.04 billion and generates $2.70 billion in revenue each year. The semiconductor company earns $1.58 billion in net income (profit) each year or $0.32 on an earnings per share basis. Marvell Technology Group employs 5,633 workers across the globe.

The official website for Marvell Technology Group is www.marvell.com.

Marvell Technology Group's mailing address is 22 VICTORIA STREET, HAMILTON D0, HM 12. The semiconductor company can be reached via phone at 441-296-6395 or via email at [email protected]